---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-062209"
form_type: "8-K/A"
ticker: "FRST"
cik: "0001325670"
company_name: "Primis Financial Corp."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T06:11:50.413846+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Primis Financial revises Q3 results with $11.2M goodwill impairment; net loss $3.6M, but adjusted EPS rises 52% to $0.32

## Summary
- Net loss of $3.6M ($0.14 diluted loss) vs net income $5.0M ($0.20) in Q3 2022, after $11.2M non-cash goodwill impairment.
- Adjusted net income $7.7M; operating EPS $0.32 (+52% YoY); net interest margin improved to 3.02% from 2.65% linked quarter.
- Core bank deposit costs rose only 11 bps to 2.34%; digital platform deposits $998.4M with 13,740 accounts; $228.7M swept off balance sheet.
- Nonperforming assets (ex-SBA) fell 21% linked quarter to $19.6M; pro forma NPA/TA 0.17% after subsequent assisted living credit resolution.
- Dividend declared $0.10 per share payable Nov 24, 2023 to holders of record Nov 10; 48th consecutive quarterly dividend.

## SEC filing metadata
- accession: 0000950170-23-062209
- form_type: 8-K/A
- ticker: FRST
- cik: 0001325670
- company_name: Primis Financial Corp.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325670/000095017023062209/0000950170-23-062209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325670/000095017023062209/frst-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-062209
- JSON: https://secwatch.observer/filing/0000950170-23-062209.json
- Plain text: https://secwatch.observer/filing/0000950170-23-062209.txt

## Key facts
- Earnings Releases
  Primis Financial Corp. reported three months ended September 30, 2023 results: net income net loss of $3.6 million, EPS loss of $0.14.
  - Period: three months ended September 30, 2023
  - Net income: net loss of $3.6 million
  - EPS: loss of $0.14
  - Result: reported results
  source text: Primis Financial Corp. Issues Revised Results for the Third Quarter of 2023 MCLEAN, Va., Nov. 9, 2023 /PRNewswire/ -- Primis Financial Corp. (NASDAQ: FRST) ("Primis" or the "Company"), and its wholly-owned subsidiary, Primis Bank (the "Bank"), today amended its previously announced financial results for the three and nine months ended September 30, 2023. Revised results reflect a non-cash after-tax goodwill impairment charge of $11.2 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1325670/000095017023062209/0000950170-23-062209-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.